SOXL vs. WNTR

Last updated Jul 10, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while WNTR is a Derivative Income fund actively managed by YieldMax. SOXL is passively managed, while WNTR is actively managed. Over the past year, SOXL returned 622.35% vs 109.73% for WNTR. At a correlation of -0.34, they often move in opposite directions. SOXL charges 0.75%/yr vs 1.01%/yr for WNTR.

Performance

SOXL vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductor Bull 3X ETF (SOXL) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXL achieves a 357.89% return, which is significantly higher than WNTR's 8.52% return.

SOXL

• 1D: 10.08%
• 1M: -4.58%
• 6M: 287.61%
• YTD: 357.89%
• 1Y: 622.35%
• 3Y*: 100.52%
• 5Y*: 36.56%
• 10Y*: 59.46%

WNTR

• 1D: 0.59%
• 1M: 12.42%
• 6M: 16.50%
• YTD: 8.52%
• 1Y: 109.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SOXL vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
SOXL Direxion Daily Semiconductor Bull 3X ETF	357.89%	124.46%
WNTR YieldMax Short MSTR Option Income Strategy ETF	8.52%	52.78%

Correlation

The correlation between SOXL and WNTR is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.33
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.34

Return for Risk

SOXL vs. WNTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SOXL

SOXL Risk / Return Rank: 95
SOXL Sharpe Ratio Rank: 98
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 91
SOXL Calmar Ratio Rank: 98
SOXL Martin Ratio Rank: 98

WNTR

WNTR Risk / Return Rank: 65
WNTR Sharpe Ratio Rank: 81
WNTR Sortino Ratio Rank: 63
WNTR Omega Ratio Rank: 67
WNTR Calmar Ratio Rank: 65
WNTR Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SOXL vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SOXL	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	5.11	2.05	+3.06
Sortino ratio: Return per unit of downside risk	3.33	2.33	+0.99
Omega ratio: Gain probability vs. loss probability	1.47	1.32	+0.15
Calmar ratio: Return relative to maximum drawdown	13.94	2.59	+11.35
Martin ratio: Return relative to average drawdown	41.73	6.65	+35.08

SOXL vs. WNTR - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 5.11, which is higher than the WNTR Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SOXL and WNTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SOXL vs. WNTR - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for SOXL and WNTR.

Drawdown Indicators

	SOXL	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-90.46%	-42.65%	-47.81%
Max Drawdown (1Y) Largest decline over 1 year	-45.05%	-42.65%	-2.40%
Max Drawdown (3Y) Largest decline over 3 years	-87.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-90.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-90.46%	—	—
Current Drawdown Current decline from peak	-36.01%	-11.46%	-24.55%
Average Drawdown Average peak-to-trough decline	-34.94%	-20.59%	-14.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.02%	16.58%	-1.56%

Volatility

SOXL vs. WNTR - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 64.97% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 20.04%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	64.97%	20.04%	+44.93%
Volatility (6M) Calculated over the trailing 6-month period	107.39%	47.59%	+59.80%
Volatility (1Y) Calculated over the trailing 1-year period	122.82%	53.94%	+68.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	111.66%	53.70%	+57.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.19%	53.70%	+47.49%

SOXL vs. WNTR - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

SOXL vs. WNTR - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.01%, less than WNTR's 103.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.01%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%
WNTR YieldMax Short MSTR Option Income Strategy ETF	103.66%	58.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOXL and WNTR in my portfolio?

SOXL and WNTR have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXL or WNTR?

SOXL has higher volatility (64.97%) compared to WNTR (20.04%). In terms of maximum drawdown, SOXL dropped -90.46% vs WNTR's -42.65%.

Which ETF is better, SOXL or WNTR?

On 1-year performance, SOXL leads with 622.35% vs 109.73% for WNTR. On fees, SOXL is cheaper at 0.75% per year. On volatility, WNTR has been the lower-risk option at 20.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXL or WNTR?

Over the 1-year period, SOXL has performed better with a 622.35% return vs 109.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXL or WNTR?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.01% for WNTR.

Which ETF pays a higher dividend yield, SOXL or WNTR?

WNTR has the higher dividend yield at 103.66%, compared with 0.01% for SOXL.

What is the main difference between SOXL and WNTR?

SOXL is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 0.75% for SOXL and 1.01% for WNTR.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (5.11 vs 2.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.